Coming out of extended hibernation to report that B-Side has closed its doors after failing to re-capitalize. Scott Macaulay at Filmmaker has the story here:
B-side Entertainment, the Austin-based tech and distribution company that provides website services to film festivals, is closing. The company, which launched a New York-based distribution arm just 13 months ago, lost its funding from venture capital fund Valhalla Partners in late 2009. “We have spent the last four or five months looking for a [financing] alternative,” B-Side CEO and founder Chris Hyams told Filmmaker. “But we reached the end of our cash before we could secure new investment. We had to shut the company down.”
B-Side shuts down after a huge gig running Sundance’s online fest catalog, where they introduced a buzz section that tracked audience response to films. They had also recently branched into film distribution, embracing a grassroots, build-your-own-screening approach that saw some success with the docu “Super High Me” that pushed DVD sales through free screenings.
What happened? B-Side’s President of Distribution Paola Freccero told Macaulay that the VC fund, Valhalla Partners, didn’t have the patience for indie film:
“The VC world is one that looks for astronomical success in short amount of time, but the film business has never been about quick success. It’s about who can stay in the business long enough to become profitable. There is just a big discrepancy between what a traditional VC [fund] wants to see as a success and what is possible in independent film’s new world order. It’s not anyone’s fault — just unfortunate timing.”
Scott has a very thorough piece on the breakdown at the Filmmaker Mag blog. Check it out.
The great CineVegas Film Festival, coming off its strongest year, has announced it will go on hiatus for 2010.
“Given the current economic climate and the pressures it has created, we made the difficult decision to put CineVegas on hiatus for the coming year. CineVegas has become such a well respected film festival, and rather than allow the economy to affect its level of quality we have opted to put the event on hold,” said Robin Greenspun, Festival President.
“We are so proud that CineVegas has grown to become a premiere showcase for uninhibited filmmakers and a scintillating festival experience for our attendees. CineVegas has developed a growing legion of supporters over the years who truly appreciate film and life on the edge, and we thank them for all of their support. We are very sad to be announcing this hiatus, but it is our hope to keep the CineVegas brand alive and re-launch the Festival once the economy recovers,” said Trevor Groth, Artistic Director.
San Francisco Film Society exec director Graham Leggat announced this morning that Rachel Rosen will be the fest’s new Director of Programming.
“We’re thrilled to welcome Rachel back to a leadership role in the organization after her extraordinarily successful tenure in Los Angeles,” said Leggat. “Her intelligence, flair for innovation and keen eye for exciting new work are just what we need as we enter our next phase.”
Rosen will leave her eight-year gig as director of programming for FIND‘s Los Angeles Film Festival, which recently wrapped up one of its best years. She was the associate director of programming for the San Fran Film Society before joining FIND.
Rosen steps in for former SFIFF programmer Linda Blackaby, who left August 7.
iW has the story here.
You know Comic-Con has turned a corner when a vendor hawks cologne for geeks. The box for this Star Trek-inspired perfume called Red Shirt reads: “Because tomorrow may never come.”
Check out my Con article for FilmInFocus:
The Comic-Con volunteer working the registration desk has seen most every character in the universe pick up their badge, from the Green Lantern to Alice in Wonderland. “But it was the girl in the French maid outfit carrying an Uzi had me scratching my head,” she says. “Bless her, but her generous body just wasn’t built for that get-up.” Yet that is Comic-Con—a celebration of secret joys made public. And while its geek growth has made it a target of Letterman and Leno, genre lovers come here to be loved no matter how they look.
And loved they are.
In full here.
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